Question 1

Effective marketing benefits society because it

Accepted Answer

A)  reduces competition,making the playing field more even.
B)  improves the quality of products and services regardless of the cost.
C)  allows companies to charge whatever price they want,regardless of product quality.
D)  makes countries more competitive in world markets while simultaneously reducing competition in their home markets.
E)  enhances competition,which improves the quality of products and services and lowers their prices.F) C) and E)
G) A) and B)

Question 2

A church put advertisements in its weekly bulletins to encourage its members to participate in the services by telling a brief,positive story about how fellow members have helped them during times of need.Jack volunteered and shared his story during a service.Afterwards,he felt joyous.Was this an exchange in a marketing sense?

Accepted Answer

A)  Yes,because the church ran an advertisement,a marketing activity.
B)  No,because the church is nonprofit organization and these actions are expected without any expectation of "exchange."
C)  No,because no money was exchanged.
D)  Yes,because sharing his story at a service was exchanged for a feeling of joy.
E)  No,because the church did not provide Jack with a tangible product or service.F) A) and C)
G) D) and E)

Question 3

Ultimate consumers refer to

Accepted Answer

A)  the people who use the products and services purchased for a household.
B)  people who have already purchased a firm's product at least once,have been satisfied,and are likely to make repeat purchases.
C)  people or organizations that have used a competitor's product and who have been dissatisfied,and who are still seeking a product or service to satisfy their needs.
D)  those manufacturers,wholesalers,retailers,and government agencies that buy goods and services for their own use or for resale.
E)  one or more specific groups of potential customers toward whom an organization directs its marketing program.F) None of the above
G) B) and E)

Question 4

Jakubowski Farms Gourmet Bread Base is the brand name for a mix designed for use in bread machines.The mixes are sold in 2-pound canisters for $14.99 plus postage.The products are only available through the mail.People learn about the product through word-of-mouth and bread machine demonstrations the company's founder gives to groups in Wisconsin where she lives.This is a description of the company's

Accepted Answer

A)  action plan.
B)  market segmentation strategy.
C)  mission statement.
D)  marketing mix.
E)  target market.F) A) and B)
G) None of the above

Question 5

What are the two key objectives of marketing? Define "exchange" and explain how it supports these objectives.

Accepted Answer

To serve both buyers and sellers,marketi...

Question 6

3M's Post-it Flag Highlighter and Pen marketing program was designed for what primary objective?

Accepted Answer

A)  the initial introduction of two new 3M products
B)  specific promotions to be used for long-range strategies
C)  segmenting the market into twelve specific target market segments
D)  marketing 3M products to foreign markets
E)  positioning the products relative to major competitorsF) B) and E)
G) A) and B)

Question 7

An organization with a market orientation

Accepted Answer

A)  focuses its efforts on: (1) continuously collecting information about the environment; (2) keeping abreast of the actions of its competitors; and (3) using this information to create customer value.
B)  identifies prospective buyers,understands them intimately,and develops favorable long-term perceptions of the organization and its offerings so that they will choose it in the marketplace.
C)  strives to satisfy the needs of consumers while also trying to achieve its goals.
D)  satisfies the needs of consumers in a way that provides for society's well-being.
E)  focuses its efforts on: (1) continuously collecting information about customers' needs; (2) sharing this information across departments; and (3) using it to create customer value.F) B) and C)
G) C) and E)

Question 8

Which of the following is an example of time utility?

Accepted Answer

A)  an iPhone with a "multitouch" user interface for easy navigation
B)  Goodwill that has a 24-hour drop off box for clothing donations
C)  a dry cleaners that is located inside a supermarket
D)  a cell phone company that offers six-month financing,same as cash
E)  a new herbal supplement that offers a 30-day free trialF) A) and B)
G) A) and C)

Question 9

Relationship marketing refers to

Accepted Answer

A)  the selection and the assignment of a firm's personnel for a specific product or product line to a group of current or prospective customers.
B)  the belief that it is easier and less expensive to find new customers than to retain old ones.
C)  the linking of the organization to its individual customers,employees,suppliers,and other partners for their mutual long-term benefits.
D)  the process of identifying prospective buyers,understanding them intimately,and developing favorable long-term perceptions of the organization and its offerings so that buyers will choose them in the marketplace.
E)  exclusive legally binding contractual agreements between retailers and customers in order to create enhanced value for each party.F) A) and B)
G) C) and E)

Question 10

In U.S.business history,the marketing concept era began in __________.

Accepted Answer

A)  the early years of the civil war
B)  the 1920s
C)  the late 1950s
D)  the mid-1980s
E)  the first few years of the 21st centuryF) A) and E)
G) A) and D)

Question 11

The United States Army recently has been both praised and criticized for its use of a popular video game,America's Army,which is designed to reach potential recruits.The game's creator,Colonel Casey Wardynski,wanted to provide a sense of the training and teamwork one could find in the military environment.The game is designed for "boys 14 years or older," which represent the Army's __________.

Accepted Answer

A)  mass market
B)  actual recruits
C)  restricted market
D)  target market
E)  untapped marketF) A) and D)
G) None of the above

Question 12

Organizational buyers are described as

Accepted Answer

A)  only purchasers of raw materials and natural resources.
B)  employees who purchase household items for their personal use.
C)  manufacturers,retailers,or government agencies that buy products for their own use or for resale.
D)  any individual or group making a purchase worth over $100,000.
E)  any man,woman,or child who uses products purchased for a household.F) C) and D)
G) B) and E)

Question 13

You change the oil in your car yourself and dump the used oil down the sewer drain that ultimately flows into the local river.Oil manufacturers know this in not an isolated occurrence,so should they be concerned?

Accepted Answer

A)  No,you paid for the oil and you can do with it as you like.
B)  No,the oil company will someday add a premium to the price to pay for oil cleanup in the environment.
C)  Yes,this is the type of situation that can get an oil company a lot of bad press.
D)  Yes,this is an issue of social responsibility because the polluted water affects others in the society at large.
E)  No,this is an issue solely between you and your neighbors.F) C) and E)
G) A) and C)

Question 14

A factor that might doom a product in the marketplace is referred to as a(n) __________.

Accepted Answer

A)  albatross
B)  land mine
C)  pit fall
D)  showstopper
E)  wild cardF) A) and B)
G) B) and C)

Question 15

Customer relationship management (CRM) is most closely related to the __________ era in U.S.business history.

Accepted Answer

A)  customer relationship
B)  production
C)  sales
D)  marketing concept
E)  societal marketingF) D) and E)
G) C) and E)

Question 16

The element of the marketing mix demonstrated when an art gallery suggests a $2.00 donation at the door is __________.

Accepted Answer

A)  philanthropy
B)  place
C)  product
D)  promotion
E)  priceF) A) and B)
G) None of the above

Question 17

Which of the following terms best describes the marketing concept era?

Accepted Answer

A)  consumer-oriented
B)  production-oriented
C)  sales-oriented
D)  society-oriented
E)  competition-orientedF) C) and D)
G) B) and C)

Question 18

Which of the following organizations engage in marketing?

Accepted Answer

A)  the Chicago Cubs
B)  the San Francisco Opera
C)  the City of Denver
D)  the President of the United States
E)  Every organization or individual can engage in marketing to some extent.F) B) and D)
G) B) and C)

Question 19

An organization that focuses its efforts on: (1) continuously collecting information about customers' needs; (2) sharing this information across departments; and (3) using it to create customer value is said to have a

Accepted Answer

A)  product orientation.
B)  customer orientation.
C)  market orientation.
D)  industry orientation.
E)  societal orientation.F) A) and C)
G) A) and B)

Question 20

The combined American Marketing Association's 2004 and 2007 definitions of marketing used in the textbook define marketing as

Accepted Answer

A)  the activity for creating,communicating,delivering,and exchanging offerings solely for the benefit of the organization's stockholders.
B)  the activity for creating,communicating,delivering,and exchanging offerings that benefit its customers,the organization,its stakeholders,and society at large.
C)  the activity for creating,communicating,delivering,and exchanging solely for the benefit of the organization's customers.
D)  the activity for creating,communicating,and delivering a product or service at the highest possible price.
E)  the activities of advertising,promoting,and selling products to the greatest number of profitable customers.F) A) and B)
G) A) and C)

Exam 1: Creating Customer Relationships and Value Through Marketing

An organization with a market orientation

Correct Answer
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Which of the following organizations engage in marketing?

Correct Answer
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Organizational buyers are described as

Correct Answer
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An organization that focuses its efforts on: (1) continuously collecting information about customers' needs; (2) sharing this information across departments; and (3) using it to create customer value is said to have a

Correct Answer
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Customer relationship management (CRM) is most closely related to the __________ era in U.S.business history.

Correct Answer
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Ultimate consumers refer to

Correct Answer
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The element of the marketing mix demonstrated when an art gallery suggests a $2.00 donation at the door is __________.

Correct Answer
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The combined American Marketing Association's 2004 and 2007 definitions of marketing used in the textbook define marketing as

Correct Answer
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3M's Post-it Flag Highlighter and Pen marketing program was designed for what primary objective?

Correct Answer
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You change the oil in your car yourself and dump the used oil down the sewer drain that ultimately flows into the local river.Oil manufacturers know this in not an isolated occurrence,so should they be concerned?

Correct Answer
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Relationship marketing refers to

Correct Answer
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A factor that might doom a product in the marketplace is referred to as a(n) __________.

Correct Answer
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Which of the following terms best describes the marketing concept era?

Correct Answer
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Effective marketing benefits society because it

Correct Answer
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What are the two key objectives of marketing? Define "exchange" and explain how it supports these objectives.

Correct Answer
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To serve both buyers and sellers,marketi...
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Which of the following is an example of time utility?

Correct Answer
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In U.S.business history,the marketing concept era began in __________.

Correct Answer
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Exam 1: Creating Customer Relationships and Value Through Marketing

An organization with a market orientation

Correct AnswerverifiedShow Answer

Which of the following organizations engage in marketing?

Correct AnswerverifiedShow Answer

Organizational buyers are described as

Correct AnswerverifiedShow Answer

An organization that focuses its efforts on: (1) continuously collecting information about customers' needs; (2) sharing this information across departments; and (3) using it to create customer value is said to have a

Correct AnswerverifiedShow Answer

Customer relationship management (CRM) is most closely related to the __________ era in U.S.business history.

Correct AnswerverifiedShow Answer

Ultimate consumers refer to

Correct AnswerverifiedShow Answer

The element of the marketing mix demonstrated when an art gallery suggests a $2.00 donation at the door is __________.

Correct AnswerverifiedShow Answer

The combined American Marketing Association's 2004 and 2007 definitions of marketing used in the textbook define marketing as

Correct AnswerverifiedShow Answer

3M's Post-it Flag Highlighter and Pen marketing program was designed for what primary objective?

Correct AnswerverifiedShow Answer

You change the oil in your car yourself and dump the used oil down the sewer drain that ultimately flows into the local river.Oil manufacturers know this in not an isolated occurrence,so should they be concerned?

Correct AnswerverifiedShow Answer

Relationship marketing refers to

Correct AnswerverifiedShow Answer

A factor that might doom a product in the marketplace is referred to as a(n) __________.

Correct AnswerverifiedShow Answer

Which of the following terms best describes the marketing concept era?

Correct AnswerverifiedShow Answer

Correct AnswerverifiedShow Answer

Effective marketing benefits society because it

Correct AnswerverifiedShow Answer

What are the two key objectives of marketing? Define "exchange" and explain how it supports these objectives.

Correct AnswerverifiedTo serve both buyers and sellers,marketi...View AnswerShow Answer

Which of the following is an example of time utility?

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In U.S.business history,the marketing concept era began in __________.

Correct AnswerverifiedShow Answer

Correct AnswerverifiedShow Answer

Correct AnswerverifiedShow Answer

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To serve both buyers and sellers,marketi...
View Answer

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